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Development Studies

Central Bank of Nigeria

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Full-Text Articles in Economics

Is The Heterogeneity Of Expenditure Relevant To Economic Growth? The Case Of Nigeria, Efayena O. Oba, Ngozi P. Buzugbe Dec 2021

Is The Heterogeneity Of Expenditure Relevant To Economic Growth? The Case Of Nigeria, Efayena O. Oba, Ngozi P. Buzugbe

Bullion

With the Nigerian economy oscillating around financial quagmire and fast moving towards fiscal unsustainability, this study analysed the impact of disaggregated expenditures on economic growth. Employing data from 1980 to 2019, the study established through the autoregressive distributed lagged technique that heterogeneity in expenditure is relevant to economic growth, with recurrent expenditure contributing insignificantly to economic growth, while capital expenditure negatively impact economic. Thus, among other policy option, the study suggested appropriate expenditure over recurrent expenditure and that government should engage more in the provision of capital projects in the economy.

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Governance, Institutional Quality, Growth And Inequality In Africa. A Study Of Central Bank Of Nigeria, Ann Ogbo, Arachie Augustine Ebuka, Ezema Ikechukwu Humphrey Mar 2020

Governance, Institutional Quality, Growth And Inequality In Africa. A Study Of Central Bank Of Nigeria, Ann Ogbo, Arachie Augustine Ebuka, Ezema Ikechukwu Humphrey

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This paper examined the role of institutional quality on economic growth and reduction of inequality in Nigeria. Survey research design was adopted and data were collected through primary and secondary sources. Population of the study was 600 businesses across Nigeria. Descriptive and inferential statistics were used for data analysis. Findings revealed that the bottlenecks facing businesses in accessing loans have significant effects on business creation in Nigeria. The study concluded that lack of policies and interventions are not the problems for small businesses to obtaining funds from government, but effectiveness and efficiency of these interventions and policies.

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The Relevance Of Garch-Family Models In Forecasting Nigerian Oil Price Volatility, Garzali Muhammed, Bashir Umar Faruk Ph.D Jun 2018

The Relevance Of Garch-Family Models In Forecasting Nigerian Oil Price Volatility, Garzali Muhammed, Bashir Umar Faruk Ph.D

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This study aims at investigating the relevancy of GARCH - family models in measuring the Nigeria bonny light crude oil price volatility. The study also compares the forecasting power of different GARCH models with the aim of identifying the best forecasting model. The study uses the best GARCH family model to predict the future bonny light oil prices. The paper is structured into five sections. First section is introduction and second section is the literature review. The third section highlight the methodology while section four analyses the result and gives discussions of findings. Conclusion and recommendations are in the last …

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Geopolitical Tensions, Crude Oil Price And Output Dynamics: Implications For Fiscal Governance In Nigeria, Harrison O. Okafor Mar 2018

Geopolitical Tensions, Crude Oil Price And Output Dynamics: Implications For Fiscal Governance In Nigeria, Harrison O. Okafor

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This paper examined the linkages between geopolitical tensions, crude oil prices and oil output dynamics vis-a-vis the implication for fiscal governance in Nigeria. within a strategic game theoretical framework, anchored on moral hazard assumptions (incentive problem) and applying VAR model, findings indicate that geopolitical tensions affects Nigeria's bonny light crude oil price and export. Results also revealed that the timing and impact of geopolitical tensions last fairly long thus, could affect fiscal revenue and economic governance in Nigeria. Therefore, the paper recommends a complete diversification of the economy from oil will strengthen the nation's fiscal space and development planning.

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Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi Mar 2018

Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi

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In Nigeria, 67% of the population lives below the poverty line. Access to basic financial services can make a significant difference in reducing poverty and financial technology has been used to enhance the provision of financial services to the poor and unbanked in sub-Saharan Africa. This paper seeks to highlight the nexus between financial inclusion and financial technology as well as how it can help reduce poverty in Nigeria.

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Monetary Policy Management In Nigeria Today: Issues In Stagflation And Recession, Moses K. Tule Mar 2018

Monetary Policy Management In Nigeria Today: Issues In Stagflation And Recession, Moses K. Tule

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This article explore the rare and challenging economic problem faced by Nigeria refers to as stagflation. i.e. a condition characterized by the co-existence of declining growth rates along with high unemployment and inflation rates. These negative economic development have raised major concern for policy makers and other economic agents because of the adverse effects on investment, financial stability and livelihood.

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How Micro Small And Medium Enterprises (Msmes) Can Leverage On Central Bank Of Nigeria's Real Sector Initiatives, Paul Nduka Eluhaiwe Jun 2016

How Micro Small And Medium Enterprises (Msmes) Can Leverage On Central Bank Of Nigeria's Real Sector Initiatives, Paul Nduka Eluhaiwe

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This paper seeks to explore how MSMES can leverage on financing interventions of the CBN with a view to enabling them grow their businesses, employ more Nigerians and contribute to GDP.

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Monetary Policy And Financing Real Sector Growth In Nigeria., Moses K. Tule Jun 2016

Monetary Policy And Financing Real Sector Growth In Nigeria., Moses K. Tule

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The study examines CBN's real sector financing initiatives and implication for real sector growth and economic development. Section 2 discusses selected CBN real sector financing initiatives. Section 3 is the implications of the initiatives for growth and economic management. Section 4 discusses challenges of implementing the policies while section 5 concludes the paper and presents suggestions on the way forward.

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The Role Of Development Finance Institutions (Dfis) In The Financing Of Small-Scale Industries (Ssis)., O. E. Essien Sep 2001

The Role Of Development Finance Institutions (Dfis) In The Financing Of Small-Scale Industries (Ssis)., O. E. Essien

Bullion

The post-independence Nigerian government adopted the import-substitution large-scale industrialisation strategy to accelerate the country's industrial development. Industrial output as well as industry's contribution to the gross domestic product (GDP) declined in the face of the strong national aspiration for the restructuring of the economy and reduction of the dependence on petroleum. Small and medium scale industries have since become the focus of national industrial policy. ln order to put our discussion into proper perspective, we need to know what we mean by SSls in the Nigerian context. The following are the current official definitions of industrial enterprises adopted by the …

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